The midfielder, who worked under Blanc during his time in charge of the France national team, has been linked with a move to the Ligue 1 champions over the past number of weeks, amid alleged interest from Arsenal and Manchester United.
"We need a player with the same mentality as the others who are on the pitch or even on the bench," Blanc told Canal+.
"He has to love playing. He needs to be good technically and strong, and whether he comes in or doesn't, there will be competition for places in each position.
"As for Cabaye, I ask myself the question. I know the man well. He has that kind of character. But there are others. We're very happy with his team, but with all the competitions we're in, there are going to be some breakages."
Canal+ has also reported this morning that the two teams have agreed on a £21m fee for Cabaye.